The suspect, identified as Maheshbhai Rameshbhai Bhadra, was arrested at Jomo Kenyatta International Airport (JKIA) moments after arriving in Kenya from Dubai.
Detectives from the Directorate of Criminal Investigations (DCI) have arrested an Indian national in connection with an alleged gold investment fraud involving USD 1,325,970 (approximately Ksh.172.3 million).
The suspect, identified as Maheshbhai Rameshbhai Bhadra, was arrested at Jomo Kenyatta International Airport (JKIA) moments after arriving in Kenya from Dubai.
According to the DCI, the arrest followed investigations into a complaint filed by an investor who alleged that Bhadra defrauded him of the money through an informal Hawala money-transfer arrangement involving agents in Dubai and Kenya.
Investigators established that the complainant was allegedly lured into the deal with a promise of securing 210 kilograms of gold, prompting him to transfer the funds in anticipation of the precious metal transaction.
"At the heart of the scam was a tantalising promise: 210 kilograms of gold. Investigations indicate that the complainant was induced to part with the money on the pretext of securing the precious metal, only for the anticipated transaction to fail to materialise," said the DCI.
However, the anticipated gold transaction reportedly failed to materialise, leading the investor to report the matter to the authorities.
The suspect is currently in police custody undergoing processing ahead of his arraignment.
